Cambodian workers of a garment factory12 February 2007
AFP
PHNOM PENH : The economy in Cambodia, one of the world's poorest nations, grew by 9.5 percent last year, according to the United Nations data, attributing growth to political stability after three decades of civil war.
The economic performance followed a record 13.4 percent growth in Cambodia's gross domestic product in 2005.
"Peace has had an extremely positive socio-economic impact on the nation," Douglas Gardner, UN resident coordinator in Cambodia, told a meeting between the government and foreign donor representatives.
Apart from booming tourism and rising garment exports, political stability after three decades of civil war, including the Khmer Rouge's brutal rule in the 1970s, helped spur Cambodia's economy, Gardner said.
"This shows that the economy is advancing," he said, but added the government should do more to help the poor and tackle growing income inequalities.
The Economic Institute of Cambodia estimated the country's gross domestic product at 6.5 billion dollars last year.
While Cambodia's economy is one of the fastest growing economies in the region, some 35 percent of the kingdom's 14 million people live in poverty, with nearly 50 percent of its national budget coming from international aid.
The three decades of civil war ended in 1998.
Economists said the growth was at a slower slip because of a fall in agricultural products, mainly rice, because of bad weather.
They said tourism and the garment industry, the key drivers of Cambodia's economy, are expected to continue expanding.
Tourist arrivals in 2006 jumped more than 20 percent to about 1.7 million people, bringing 1.4 billion dollars in revenue to the impoverished country.
The famed Angkor Wat temple complex, located in Siem Reap, is Cambodia's most treasured landmark and biggest tourist draw.
Cambodia's garment exports rose 17 percent to more than 2.5 billion dollars in 2006. Garments, which mainly go to the United States, account for 80 percent of the country's export earnings.
Cambodia also created a buzz in the oil sector in 2005 when petroleum was discovered by the US energy giant Chevron Corp off the country's coast, which struck black in four of five test wells.
The discovery of oil, as well as millions of cubic meters of natural gas, has raised hopes of an economic re-birth for Cambodia.
The economic performance followed a record 13.4 percent growth in Cambodia's gross domestic product in 2005.
"Peace has had an extremely positive socio-economic impact on the nation," Douglas Gardner, UN resident coordinator in Cambodia, told a meeting between the government and foreign donor representatives.
Apart from booming tourism and rising garment exports, political stability after three decades of civil war, including the Khmer Rouge's brutal rule in the 1970s, helped spur Cambodia's economy, Gardner said.
"This shows that the economy is advancing," he said, but added the government should do more to help the poor and tackle growing income inequalities.
The Economic Institute of Cambodia estimated the country's gross domestic product at 6.5 billion dollars last year.
While Cambodia's economy is one of the fastest growing economies in the region, some 35 percent of the kingdom's 14 million people live in poverty, with nearly 50 percent of its national budget coming from international aid.
The three decades of civil war ended in 1998.
Economists said the growth was at a slower slip because of a fall in agricultural products, mainly rice, because of bad weather.
They said tourism and the garment industry, the key drivers of Cambodia's economy, are expected to continue expanding.
Tourist arrivals in 2006 jumped more than 20 percent to about 1.7 million people, bringing 1.4 billion dollars in revenue to the impoverished country.
The famed Angkor Wat temple complex, located in Siem Reap, is Cambodia's most treasured landmark and biggest tourist draw.
Cambodia's garment exports rose 17 percent to more than 2.5 billion dollars in 2006. Garments, which mainly go to the United States, account for 80 percent of the country's export earnings.
Cambodia also created a buzz in the oil sector in 2005 when petroleum was discovered by the US energy giant Chevron Corp off the country's coast, which struck black in four of five test wells.
The discovery of oil, as well as millions of cubic meters of natural gas, has raised hopes of an economic re-birth for Cambodia.
5 comments:
9.5% growth for 2006 doesn't enable any credits for the government at all because of no commitment to amend anti-corruption law, 35% of people living under poverty line and unemployment rise among youth...etc
These three factors are the diamond gift for SRP to handle and break down the CPP's patronaged power in these coming two national elections.
SRP is like the strong stream beneath huge waves potentially to govern the country if this party directs right vision and improve leadership maturity.
There are many weakness that Hun Sen's government cannot deal with such as corruption, nepotism, cronyism, favouritism, lawless decisions, high rate of jobless, VN's influences especially the VN soldiers hidding in Toul Krosang camp and land grabbing.
SRP is easy to renovate popularity through telling the truth to the people as much as possible that Cambodia country is being controled by few governmental giant businesses such as Sukimex that controls almost 75% of national revenue and economic flow, especially this VN's based company is benefiting Khmer Heritage of Angkor Wat injustically to Cambodian people.
Vote buying and voters-intimindating culture of CPP will be useless through an understanding and courages of youth delegates and rising of self-awareness and self-reliance of the people.
For personal appearance in the public, Hun Sen has no at all the attractiveness to the people. He is only good in using old fashioned power centered totalitarianism and his uneducated patronaged parasites in the local areas.
This culture has been changed in our modern technology, communication and awareness amoung young people as well as change minding of elders.
There are many aspects that are not challenged at all for SRP to take turn to destiny our country.
More than 87% percent of Cambodian population is needing new leader, new government and new policy. This trend comes strong and it is successful for future reliable party which is not 30 years in throne of present government.
Appreciation from Khmer Young
CPP -----> Yuon-Hanoi's puppet
9.5%GDP---> more Money---where is it going ?
Answer :----> to CPP ----> Youn-Hanoi.
That's why ? Cambodia is one the poorest country in the world.
Ww need a new Khmer-Decent Government whom serves Cambodia & its People.
How ?
Not from Uncle Sam nor China,it has to be from our Khmer-People whom will stand up itself to change
the ruling evils today.
Yeah, but hadn't you and your
backstabers SISOWATT Sarimatakis
people burn us down to the ground,
we would never being this poor.
Isn't that right?
And now it is our government's
primary duty to keep you slaves
Ethiopian's tics and fleas from
set us back to ground-zero again.
Get it? if so, STFU.
The Khmer Young is right about the ruling party's weaknesses.
But it will take a clever opposition party to identify and exploit them at micro-level.
SiS
Okay, keep us posted when you find
this clever opposition. Meanwhile,
don't call us, let us call you
instead, okay?
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